Saudi Arabia is mulling setting up an arbitration center in London that would settle commercial disputes. This could help overcome one of the main disincentives to attracting foreign investors, which, despite ongoing attempts to reform it, is the Saudi legal system.
The news first surfaced in the Financial Times on 30 October, which said that the Kingdom aimed for its largest companies including state oil giant Saudi Aramco, to stipulate the use of the London center to settle disputes, as well as having foreign companies take this route. (CONTINUED - 1156 WORDS)
